BoC's Poloz: We want the economy to run hotter for a while to use up excess capacity

In an interview with CBC Television, Stephen S. Poloz, the Governor of the Bank of Canada, said that they wanted the economy to run hotter for a while to use up the excess capacity.

Key quotes (via Reuters)

We can see excess capacity in the labor market, which is a divergence you see in slow cycles.

A governor can't stop talking about household debt, by-product of monetary policy, want to make sure we don't underestimate how important that is.

Very important that we have an independent monetary policy, we are a year or two behind the U.S. in the cycle.